Base metal miners advance
Buoyed by renewed strength in base metals prices, particularly in the nickel market, most of the base metal majors made gains during the report period ended May 27.Pechiney eased up 4 to US$14.05 as …
Rio Tinto plc
New zone at Penasquito
Vancouver — Western Silver (WTC-T), formerly Western Copper, has discovered a new polymetallic zone on its wholly owned Penasquito property in Zacatecas state, Mexico.The zone, known as La Palma, is …
Miners have volatile week
U.S. stock markets advanced modestly over the five trading days May 7-13, with the Standard & Poor’s 500 index up 7.91 points at 942.30 and the Dow Jones industrial average 90.89 points higher at 8,67…
Miners in retreat
Despite a stronger performance by base metals, the share prices of the base metal giants took a pounding during the April 23-29 report period.Investors are concerned about base metals’ exposure to any…
Goldminco cuts gold at Balabag (April 28, 2003)
Vancouver — Scout drilling at the Balabag Ridge project in the Philippines has returned encouraging gold-silver values for Goldminco (GCP-V).The 594-metre program tested for mineralization below a se…
Higher gold boosts Grasberg
Vancouver — Freeport-McMoRan Copper & Gold (FCX-N), operator of the world’s largest copper-gold mine, earned an impressive US$49.2 million (or US33 per share) in the first quarter.The gain, which wa…
Busy week for base metals
The base metal miners took the spotlight away from the golds during the report period ended April 15.BHP Billiton rose 20 to US$11.56 as it launched a 10-year, US$850-million global bond, part of whi…
Mitsui buys into CVRD
The biggest global mining story of the report period was the complex deal involving Brazilian iron ore giant Cia Vale do Rio Doce’s (CVRD) and Japan’s no. 2 trading house, Mitsui.Mitsui winds up spend…
Wheaton hungry for Alumbrera stake (March 31, 2003)
Having just acquired Rio Tinto’s (RTP-N) quarter-stake in the Bajo de la Alumbrera gold-copper mine in Argentina, Wheaton River Minerals (WRM-T) is about to acquire another quarter-interest in the ope…
Pele peers into Cristal
Junior Pele Mountain Resources (GEM-V) has begun drill-testing the Cristal diamond showing at the Festival property, near Wawa, Ont.Earlier this year, Pele recovered a white, 0.72-carat gem-quality di…
Miners passed by in broad advance
The five trading days March 19-25 saw a modest advance by the U.S. stock markets, but gold and base metal equities were left out. Both major indices rose about 1%; the Dow Jones Industrial Average add…
Week-long dive on US markets
Things started badly on U.S. stock markets in the trading period March 5-11, and got steadily worse. The Dow Jones Industrial Average fell 180.81 points to 7,524.06, a loss of 2.3%, while the Standard…